Cosmin Ghiță has resigned as CEO of Romanian nuclear power producer Nuclearelectrica, with the Energy Ministry saying the decision follows “a new professional opportunity.” His departure comes as both reactors at the Cernavodă nuclear power plant remain offline because of the low level of the Danube.

Nuclearelectrica said it was notified of Ghiță’s request to terminate his mandate on August 25. The company has not yet announced the date when his departure will take effect.

“Nuclearelectrica would like to thank Mr. Cosmin Ghiță for his contribution to the company’s development during his terms of office as chief executive officer,” reads the notice to shareholders and investors.

The Energy Ministry, Nuclearelectrica’s majority shareholder and supervising public authority, said it respected Ghiță’s decision, describing a resignation as a unilateral act. His notice period will be established under his mandate contract and a decision by the company’s board.

“According to the information communicated to the ministry, Mr. Cosmin Ghiță’s decision comes in the context of a new professional opportunity,” the ministry stated.

It added that Nuclearelectrica and the Cernavodă nuclear power plant continue to operate under normal organizational conditions, with the company’s operational continuity ensured. The ministry said it would closely monitor developments and take the necessary steps to maintain stability and continuity at the company.

Cosmin Ghiță has led Nuclearelectrica since September 2017, when he was initially appointed for a provisional four-month term, according to Agerpres. He later received a four-year mandate beginning on February 11, 2019. His current mandate began on February 12, 2023, and was due to expire in February 2027.

The announcement came during what Ziarul Financiar described as the most difficult operational period in the recent history of the Cernavodă plant. Unit 1 was disconnected from the national power grid in a controlled shutdown on July 28 because of the low level of the Danube, while Unit 2 entered a controlled shutdown procedure on August 13.

It is the first time that both reactors have been taken offline simultaneously for hydrological reasons. Nuclearelectrica said the two units are being maintained in a safe shutdown state and that there are no operational risks, while their reconnection to the grid depends on changes in the flow and level of the Danube.

Nuclearelectrica operates the two 700 MW units at Cernavodă. Together, the reactors have an installed capacity of approximately 1,400 MW and normally account for around 20% of Romania’s electricity production. 

Nuclearelectrica was established in 1998 and is listed on the Bucharest Stock Exchange.

irina.marica@romania-insider.com

(Photo source: Inquam Photos/George Calin)